Posts Tagged ‘Bter’

If you have mined FedoraCoin (TIPS) when it was launched about two years ago and still have some coins left in a local wallet and have totally forgotten about them, then you might be very lucky now. It seems that there is an effort to revive the coin after quite some time and there is also a significant boos in its price, even though it is being traded on only one exchange at the moment. It was available on Cryptsy as well, but since Cryptsy is essentially dead and the TIPS wallet is not unlocked for withdraws you can only trade on BTER for LTC or CNY (and then turn them into ETH or BTC for example). The price of a single TIPS coin is at about $0.000022 USD at the moment, but since the block reward started at millions and moved to hundreds and is now tens of thousands of coins you might end up with quite a nice profit depending on the amount of coins you have. The TIPS deposits were a bit slow in the last days at the exchange (should be fixed now) and it could take a bit of time for your wallet to get synchronized and up to date, but it will be totally worth it if you have a couple of millions coins left and forgotten there for example. If you manage to own a Scrypt ASIC miner then you might want to check out the mining profitability of TIPS as well, an up to date pool for mining TIPS you can check the Hash-to-Coins multipool.

The Asian crypto currency exchange Bter has made available to its users an Investment Plan opportunity, in partnership with the JUA, giving users 10% yearly interest rate for Bitcoins held in their accounts. You need to enroll into the Investment plan to have the BTC in your account bring you interest rate and the good thing is that your coins do not get locked up, you can still trade with them or withdraw them at any time. The interest rate is being paid on a daily basis, depending on the balance you have available with the current early interest rate at 10.52%. Bter is able to offer this in partnership with JUA, a large scale mining farm operator, as apparently the funds are used as investment in JUA’s farms and the interest is provided by the mined coins. It is pretty much the same principle used by the HaoBTC online wallet service, but here you get paid a slightly higher interest rate on a daily basis and you can use the coins to trade in the exchange making some more extra profit.

The Bter crypto currency exchange that was recently hacked and over 7000 BTC were stolen has officially detailed their plans to return to full operation again and to pay back to users all of the coins that were stolen. Earlier this month the service has hinted that Bter is getting back to normal operation, but now they have resumed trading with improved security and a plan set in motion to gradually return the missing coins back to users.

Bter has revealed some interesting numbers:

Bter had been the largest altcoin trading platform in the world, with 230,000 registered accounts, including 130,000 Chinese users, daily PV closing to 4 million at its peak. As a once hottest altcoin exchange, Bter had successfully help with the exchange of 890,000 BTC and had a significant and sustainable profit model.

The stolen BTC payback plan:

1) Bter shall undertake all the loss and compensate users’ BTC loss in batches gradually.
2) The BTC holders on Bter who suffer the BTC loss shall be entitled to Bter’s half year’s trading fee in proportion to their BTC loss, besides the above the mentioned compensation.
3) The lost BTC balance in the users’ account has been transferred to the BTC_B, which will be the reference for our subsequent payback.
4) All the Bter’s future profit shall be used to pay the BTC loss for users first, until all the lost BTC is paid up.
5) Bter will open more businesses later and the profit from those businesses will also be used to pay the BTC loss for users first.
5) Bter has received 1000 BTC from its partner JUA.COM to speed the payback process.
6) In the further, Bter will seek more finance from other channels to pay up the users sooner.
7) Users on Bter will enjoy one-month’s free trading for all the trading pairs as our thanks for your trust and support
8) New BTC deposit sending to Bter shall not be affected.

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